Startup founders have cited the help from coworking and mentorship as being most beneficial to their businesses, according to the 2018 Startup Muster Annual Report.
Startup Muster’s 2018 report surveyed 1752 respondents in the startup sector, including founders, future founders and those who support the startup ecosystem. The results affirmed much of what we at Desk Space already know: support and success come from working together.
Fifty-two per cent of respondents indicated that they worked in a coworking space, with 96 per cent of those respondents indicating they had benefited from help in a coworking space. Mentorship topped the list in terms of being most beneficial, and founders also found legal, accounting and social media assistance of great advantage.
According to the 2018 report, founders are most skilled in general business operations, project management, strategy, marketing and customer service. And they engage external contractors for the skills and expertise they lack, most predominantly, accounting, software development, graphic design, legal and UX design.
Coworking spaces provide founders with access to a network of these people, as well as mentors and advisors who are available to assist formally or informally with their business. Indeed, this is culture that drives Desk Space, which provides the opportunity for internal collaborations, partnerships and exchanges between like-minded people.
“The Desk Space network is a think tank, advisory panel and resource network in one,” says Desk Space founder Steven Arthur. “The culture of Make It Together underscores everything we do. People are happy to validate ideas, be a sounding board, to exchange services and there is also the opportunity for financial investment.”
Startup Aus also released its 2018 report, which similarly documents the benefits of having high startup density in hubs such as coworking spaces. The value of having startups and startup supporters in close proximity allows them to rapidly share learnings and build highly effective networks. The Startup Muster report also revealed that 24 per cent of founders indicated they met by working together.
In establishing their startups, founders most often didn’t expect the amount of time it takes to run a company or the challenge and hard work entailed. However, many also reported that they didn’t expect to find themselves in a supportive community. But this is certainly one of the great values and benefits that comes for being a member or a coworking space and it helps make all that time and hard work pay off. Because ultimately what founders said they enjoyed about running a startup was ownership of the value create and solving important problems.
You can read about more of the results in the 2018 Startup Muster Annual Report at https://www.startupmuster.com/